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Explain the business assets Withdrawal
Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of the business.
Every transaction increases or decreases (or both) fundamental elements in accounting equation.
Effect of recording a business transaction should always leave the two sides of the accounting equation in balance.
a physical inventory on december 31 shows 2,000 units on hand. holliday sells the units for $12 each. the company has an effective tax rate of 20%. holliday uses the periodic inv
State about the Reporting sales taxes collected SALES TAX PAYABLE - CREDIT BALANCE SALES RETURNS INVOLVING A SALES TAX Tax should also be returned to the customer.
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
I submitted an assignment this morning and have heard nothing back
An inflated budgeted expense account
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
find cost of goods sold
20 hypothetical inventory transactions both sale and purchase
Q. Example on completion method? Assume that by the end of the first year (2010) the company had incurred actual construction costs of USD 30 million. These costs are 75 percen
want a question of general jouranal , t account ,traial balance , income statement and balance sheet
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